Cadillac was formed from the remnants of the Henry Ford Company when Henry Ford departed along with several of his key partners and the company was dissolved. With the intent of liquidating the firm's assets, Ford's financial backers William Murphy and Lemuel Bowen called in engineer Henry M. Leland of Leland & Faulconer Manufacturing Company to appraise the plant and equipment before selling them.The company after Henry Ford left needed a new name, and on 22 August 1902 the company reformed as the Cadillac Automobile Company. Leland & Faulconer Manufacturing and the Cadillac Automobile Company merged in 1905.The Cadillac automobile was named after the 17th-century French explorer Antoine Laumet de la Mothe, Sieur de Cadillac, who founded Detroit in 1701.